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at the connecticut elementary school. our deepest prayers and sympathies to all of the families and others hit by this senseless tragedy. the horror of the story may have muted trading on wall street today, as all priorities are being rearranged in a moment, and we will get you caught up on these markets in just a moment, but first we want to let you know. president obama is set to make a statement on this tragedy from the white house around 3:15 eastern. our john harwood is in washington with some more details on what we know right now. john? >> reporter: well, bill, the horror of this tragedy is also muted talk of anything else in washington for the day, including the fiscal cliff and all the issues that we've been discussing for some time now, but one of the jobs of a president is to console victims and to console the nation at a time of grief of this magnitude, so we're going to hear from the president at 3:15. jay carney earlier saying he wasn't going to discuss issues like gun control. it wasn't a day for politics. it's a day to focus on the victims of the tragedy, so you can expect the
their lives in the sandy hook elementary school shootings in newtown, connecticut. to the best vacation spot on earth. (all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana seafood is delicious. we're having such a great year on the gulf, we've decided to put aside our rivalry. now is the perfect time to visit anyone of our states. the beaches and waters couldn't be more beautiful. take a boat ride, go fishing or just lay in the sun. we've got coastline to explore and wildlife to photograph. and there's world class dining with our world famous seafood. so for a great vacation this year, come to the gulf. its all fabulous but i give florida the edge. right after mississippi. you mean alabama. say louisiana or there's no dessert. this invitation is brought to you by bp and all of us who call the gulf home. can i still ship a gift in time for christmas? yeah,
, connecticut, raising the prospect of policy changes to stem gun violence. it is monday, december 17th, 2012 and "squawk box" begins right now. >>> good morning, everyone. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. let's take a look at our lineup today. first off, bob doll will be giving us his lineup for stocks. that's coming up at 7:00 a.m. eastern time. at 8:00 eastern, a cnbc exclusive. david tepper, one of the world's top performing hedge fund managers will join us to give us some of his wisdom in a kaerc t can't-miss interview. a lot to talk about with him. in the meantime, why don't we get to some of today's top stories. we could see some movement in the fiscal cliff negotiations. house speaker boehner offering to raise the top tax rates on those making over $1 million a year as well as other measures amounting to $1 trillion in new revenue. that's in exchange for an equal amount in spending cuts. the white house has not yet accepted the proposal. >>> also, apple says it has sold more than 2 million in iphone 5s in china just o
, connecticut. it did have a stake in freedom group. it has invested $751.4 million as of the end of march. cerberus acquired bushmaster last year. and my column today focuses on the number of private equity firms that have major stakes in gunmakers. colt, by the way, is another that is one of them. mid ocean owns a piece of bushnell. doesn't make guns, makes everything but the gun itself. >> what do you mean, the components? >> if you want a 25 round magazine loader, they have it. if you want a military grade night vision, they have it. if you need laser guided things, that's what they make. >> but if you look at the numbers, the sales of a lot of these gunmakers, freedom group in particular have been rising sharply. and, you know, the day after -- >> and the automatic rifle, that's where the growth is coming from. >> absolutely. the day after president obama was elected, you saw a sharp jump in sales. >> i should say as of last night when i was working on this piece, there was a a briefly statement been eliot spitzer wrote an item on his blog. at the time, it was not clear that you will
the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionaires. could this be the tipping point. moving the talks beyond deadlock. >> a big week for earnings. yes, earnings. fedex, research in motion among the companies reporting. so finally maybe we'll be talking about fundamentals in the stock market more than just the cliff. we've got to talk about apple reversing its move lower this morning, sold more than 2 million iphone 5s in china. the best debut for any iphone in the china market. apple shares are higher as we mentioned. moving away from market bear territory. apple h
in newtown, connecticut. >> yep. >> we're all hugging our children a little more tightly this season. >> and everything's on the table. >> as an outdoorsman, i think we need to completely rethink guns in america. >> i think we need to protect our kids at the school, though. everything's on the table. >> our thoughts and prayers are with the families in newtown. >> thank you both very much. right now it's time for "squawk on the street." good morning. welcome to "squawk on the street." which debuted on cnbc's seven years ago today. happy anniversary to us. i'm melissa lee with carl and jim cramer and david faber live from the new york stock exchange. let's look at how we're setting up after yesterday's rally. particular strength in yesterday's rally. we didn't get housing starts, that's earlier today. as for the picture in europe, really the stand outout here is the euro. greece getting a five notch upgrade at the s&p. our road map this morning starts with gm. government motors no more. the treasury to exit its stake in the next 12 to 18 months, purchasing 2 million shares by the end
'd like to say, that i think all of our hearts and prayers are with the families in newtown, connecticut. as a father, i cannot even imagine the utter horror that those families are going through right now, grieving the loss of their children and their loved ones. as far as the fiscal cliff is concerned, as the speaker has said, we remain committed to trying to minimize the impact on hard-working families and small businesses in this country, as far as tax increases are concerned. we look to find the answer to solve the problem on the spending issue here in washington. the president is not yet there. he has not come to where he needs to be in order for us to push through a bill that really does begin to address the problem. and as the speaker said, that's why we are now discussing an alternative plan, if the president and the white house cannot come our way. thank you. >> as the speaker and the leader said, we've been trying to make sure we do not go off this fiscal cliff. but at the same time, put america on a different path. one for job creation, one that also takes care of our spendin
have a newtown, connecticut facility. >> we do. we have about 400 associate there is and it really has been traumatic. last night we had a memorial service, 3,500 local people game from newtown, from danbury. it is a tragedy. many of our associates live in newtown, we have a major facility there and it just shows the fragility of life and i can speak as a parent that if you lose a child, nothing else matters. >> now, if someone wants to help, was there an organization that you would recommend that people help? >> they have set up a special section in the united way in danbury. and if you connect the united way danbury, they have an area where you can send funds and they're doing a lot of good work. >> okay. now your company itself has been pretty socially responsible. an issue that i thought was important is fuel, the footprint that your company has and how important this is to you. zero fuel now you use? >> it really is. it's a remarkable situation that we have, you know, we are an integrated company. we have operations in vermont and vermont can go minus 14 in winter and this year we
in connecticut, please, chris? >> caller: boo-yah. i want to know where you stand on -- >> i don't know, where i stand, it's already too high. this thing does not come in. i would prefer you to be in eqt, which i think i reiterated this morning and i think is much better. there are lots of people who say there will be blockbuster natural gas deals coming down the road and that's why cabot stays high, plus incredible marcellus holdings. when i first heard about it, it was through cog and i thought it was like veal, but it turned out to be a good place for natural gas. that is the conclusion of the "lightning round"! >> the "lightning round" is sponsored by td ameritrade. >>> coming up -- waiting for washington to rise above? get your portfolio prepared for whatever happens. call, tweet, or e-mail and find your way to the latest edition of "am i diversified." isk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he
to the "kudlow report." i am larry kudlow. one week after the devastating school shooting in newtown, connecticut, left 26 people dead, the national rifle association is breaking its silence. the gun rights group is calling on congress to put armed guards at every school. it's a very interesting development. actually, we could bring in -- let's go right to nbc's danielle lee. she's going to join us with the nra details. good evening, danielle. >> reporter: larry, good evening. after a week long talk about gun control and protecting our children, the situation isn't fewer guns, but more of them on camp campus. the nra's leader blamed the media for a culture of violence. and also accused the country of failing to protect our children by not putting police on every campus with guns. >> the only thing that stops a bad guy with a gun is a good guy with a gun. >> even supporters of the nra called the organization out of touch with america. lawmakers and top educators fired back. they say any solution also needs to include gun control and mental health care. >> i don't believe that the only way to stop
, connecticut, that would be fine with them and it's just a matter of damage control. >> and will republicans have to pay in any way for something that has no spending cuts in it. >> ideally, a lot of these guys would like to wait until january so they can say we voted for a tax cut and the new status quo is where all of the taxes have gone up. i'm sure there will be primary challenges. >> what do you think? >> first of all, let me be clear. i think 50/50 at best for exactly the reason you cited. i can't imagine that reid and mcconnell are having a happy discussion right now, so there will be serious differences there. for example, if mcconnell insists on keeping the estate tax parameters where they are instead of going where the president is, that completely seals the deal and that's one piece. >> michelle, you've made that point throughout the show, and i partially agree with you, but i will tell you this. right now everybody in this town is focused on taxes and preventing 98% of households from seeing a tax increase and that's what's in these guys' heads and i expect you won't accept this,
, the fiscal cliff, newtown, connecticut, what happened up there, that's the gem feeling overall. jcpenney, they've had promotions walking away from it every day, low discount price story. oppenheimer noted discount racks had been cleared and the traffic seems to have improved in that store. maybe that change in their philosophy has helped them out. that's a note that was out on oppenheimer today. bottom line here, guys, is i think we are seeing some movement with some companies to deal with some of these retail sales issues. you'll see a lot of pressure on margins. david, i think you mentioned this, about what was going on with inflows and outflows from equity mutual funds. it's true we're continuing to get outflows from equity mutual funds. that's certainly been disappointing. we had it going through up until last week. the end of last week, it was reported the first outflows from treasuries. more specifically, from general bond funds. that's the first time we've seen this in a very, very long time. all right, it was a very small number, something on the order of $1 billion or something
being up. all of a sudden then, we had the impacts of sandy, a tragedy up in newtown, connecticut, and just a lot of other factors that just put a damper on the season. >> so, it is fair to say that it started better than it ended now. >> it started better than it ended. there was a lot of excitement around black friday. i mean it was almost like the super bowl. they have all this advertising, drag people out, it's the biggest event of the year come shopping, and then week after that we had the pro bowl. there was no excitement. there was no reason to come out shopping. so big bang, but it kind of waned as we went into the season. >> how much of the season is in the books now? i mean, what's still left to happen? >> there's a couple of big days still coming. i think this weekend is a big weekend as people redeem gift cards, go into the stores, exchange items for what they're looking for. hopefully get that add-on sale and people start to take advantage of the clearance sale, i would say, though, 95% of it is in the books. we've probably got some strong days ahead of us, though, th
elections. it's likely to happen. and the school massacre in connecticut is now elevated gun control. democrats had been steering away from the issue out of political fear. connecticut changed the equation and the president will offer proposals in his state of the union. he'll face strong opposition from republicans and the gun lobby. that means bet on some action but not the sort of restrictions democratic liberals prefer. >> our thanks to john harwood. let's try to go back to mary thompson and see what is moving at the new york stock exchange. >> well, things are moving and my mike is finally working. as i mentioned earlier or was trying to mention, the dow had briefly dipped below 13,000. it is off the lows of the day. but again, wall street continues to keep watch on wall street or washington. most specifically the 3:00 meeting between the president and the leaders of congress. volumes today as you might expect, this is the second to last trading day of the new year, volumes are low. in fact, they're tracking below yesterday's levels, which were also very weak. as it stands right
especially after the horrible shooting in connecticut. marshall cohen at the mpd group says retailers had problems long before the tragedy. he says, quote, the lack of sales is due to the lack of excitement in merchandise and to blame it on this terrible disaster upsets me. and then of course there's everybody's concern about debt. they're avoiding it. >> christine, delinquency rates that are still very, very low compared to the last ten years. so i don't think that consumers are going wild this year. >> we heard that a lot. finally, it's even been a little slow they say at saks 5th avenue, on 5th avenue in new york city. our producer took these pictures. sw retail advisers says you could, quote, in saks hear a pin drop during a 60% sale going into saturday. but, bill and maria, i was in the very store in new york last week, my first time at saks during this time of the year. if that is slow for christmas, i don't want to know what busy is. i couldn't even get down the aisle. >> by the way, jane wells, you mentioned c's candy. unbelievably, they opened some kiosks in malls in the northeas
the prospects for a deal to avoid the fiscal cliff, congressman jim himes, democrat from connecticut. congressman, there are some in both parties, i don't know, maybe they wouldn't admit it, they don't think it's the worst thing in the world to go over temporarily. where are you? >> you know, i think there's some chance we get a deal in the early weeks of january which means technically you are going over the cliff. if you vote on the deal that john boehner couldn't get done in his conference thursday, if you vote on that in january, a deficit deal than december. it's actually a tax decrease. i don't think nothing is going to happen in the coming weeks. it is possible we get into the first week of january before something to vote on. congress has gotten used to doing things at the last minute and it's not exactly clear when the last minute is here. >> i've been saying for a while you don't have to deal with 400 or 500 grand, get 250, what the president has wanted all along and get the republicans to not vote for a tax cut for everybody under 250. why hasn't that been the strategy or
, the hurricane sandy, the track dpi in connecticut, people had a lot on their minds this season. this weekend was a key weekend. i think it helped. i didn't see promotions being extra promotional. but it's a push till the end. >> okay, so winners and losers? >> i think some of the winners, i think you're going to see companies like tjx, macy's. i think american eagle outfitters, even gap had a very good season, along with michael kors. >> losers? >> i think you had a tough time at jcpenney. i think the traffic was tough there all the time. i think kohl's had to be extra promotional in order to be able to drive the sales. and the whole children's sector was very promotional. from gymboree to children's place. >> so, dana, jason trennert from strat eegous. how are you doing? >> good, how are you, jason? >> good. normally retail stocks outperform in january, because i think that phenomenon that andrew was talking about is that there's a general sense that christmas gifts canceled at a certain point and then it comes back at the end and then you wind up having a big january and the stocks tend to
Search Results 0 to 16 of about 17

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